Updated May 25 at 6:51am

URI Foundation given $50K from Centerville

After a $50,000 donation from Centerville Bank, the University of Rhode Island will now be able to fund more scholarships for undergraduate students. More

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URI Foundation given $50K from Centerville

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After a $50,000 donation from Centerville Bank, the University of Rhode Island will now be able to fund more scholarships for undergraduate students.

The donation will be paid during the next five years and added to the Centreville Bank Scholarship Endowment, established at the URI Foundation in 1996, to provide undergraduate support to Rhode Island students on the basis of merit and financial need.

“The University of Rhode Island is a vitally important institution for the people of Rhode Island, not only as a world-class leader in education but as a powerful economic engine,” said Raymond J. Bolster II, president and CEO of Centreville Bank and a 1975 graduate of URI’s College of Business Administration. “We are very pleased to continue our support of URI scholarships with today’s $50,000 gift.”

The donation matches a similar $50,000 contribution that Centerville Bank made to URI in 2007.

According to the URI Foundation, approximately 16 Centreville Bank Scholarship awards have been made since the endowment was fully funded in 1999. The average scholarship amount to each student is approximately $1,200. •

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